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Vanilla Beans Prices Dropping for 2019 but still above the Psychological USD450 mark

Gourmet Grade A Uganda Vanilla Beans 2019

Gourmet Grade A Uganda Vanilla Beans 2019

The price of top-quality Madagascar vanilla beans has fallen to between $475 and $500 per kilogram from a high last year of $600, resulting in an overall 10% to 15% drop across all grades of the product, according to Food Business News.

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Still the current price decline may not be coming fast enough for food and beverage manufacturers who have the option of using less-expensive natural flavor alternatives to reduce or replace vanilla, the publication noted.

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"We continue to see new product launches that highlight vanilla extract as an ingredient, both in North America and globally, likely because vanilla extract is a familiar ingredient and a staple in most U.S. pantries,” Jenna Baker, marketing manager at ADM, told Food Business News. “It fits perfectly with the movement to clean and clear labels.”

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